Base Chemicals Drive Down Total's Chemical Results

3:51 AM MST | February 11, 2010 | Kerri Walsh

Total chemical segment net operating earnings tumbled 59% in the fourth quarter because of "weaker market conditions for base chemicals." Chemical segment earnings were €72 million ($106 million), on sales down 2%, to €3.9 million. The base chemicals division reported a net operating loss of €16 million, on sales down 2%, to €2.4 billion. Net operating profit from the specialties business jumped 69%, to €93 million, on sales down 1%, to $1.5 billion. Total's specialties business is made of adhesives, electroplating...